Snap revenues top view amid push to grow users

Revenues climb though daily active users remain below their level a year ago

Photo sharing app Snapchat beat sales expectations at the start of 2019 even as user numbers remained below their level a year ago following outflows in 2018. Snapchat’s parent company Snap said on Tuesday that revenue in the first quarter rose 39 per cent year-on-year to $320m, ahead of the $305m forecast by analysts according to Factset data and well beyond the company’s own guidance of $285m to $310m. After user numbers flattened at the end of 2018, following two consecutive quarters of decline, Snap came close to returning to user numbers seen a year ago: the number of daily active users fell from 191m in the prior-year quarter to 190m — although that beat analyst expectations for 187m and Snapchat’s 186m users at the end of last year.

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